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US stock futures higher on return from holiday after strong report on Chinese economic growth
NEW YORK (AP) ' U.S. stock futures are higher after a report showed strong growth in China.
Dow futures are up 1 percent at 12,508. The broader Standard & Poor's 500 futures rose 0.6 percent to 1,298. The Nasdaq composite is up 0.6 percent at 2,400. The market was closed Monday for a holiday.
Government figures showed that the slowdown in Chinese growth in the final quarter of 2011 was smaller than feared. Though growth of 8.9 percent represented the lowest rate in two and a half years, the markets had been expecting a bigger decline to 8.7 percent.
The data boosted Asian and European markets.
China is needed to shore up the global economy, especially when many investors are openly fretting about a Greek debt default that could prompt further market turmoil.